Carzonrent Invests $20M in Self-Drive Brand

Mobility services provider Carzonrent has invested $20 million (about 133 crore rupees) in its self-drive brand Myles, according to a report by The Economic Times.

Since its launch two years ago, Myles has been expanding 30% on a monthly basis, says the report.

"Self-drive is a nascent business but growth is going to be phenomenal, with a lot of demand coming from youngsters between 18 and 40 years of age who do not want to use their own cars," Carzonrent CEO Rajiv Vij told The Economic Times.

Currently, Myles runs more than 1,000 vehicles across 23 cities in India, including Delhi, Mumbai, Bangalore, Pune, and Chennai.